Published On: Thu, Apr 28th, 2016

Somalia: Puntland President in Saudi Arabia to seek for investment

Somalia: Puntland President in Saudi Arabia to seek for investment

Puntland President (L) shakes hands with Saudi high-profile investor Prince Alwaleed bin Talal.

Puntland President Abdiweli Mohamed Ali and his delegation have met top Saudi businessmen in the oil-rich kingdom to establish and build investment and trade partnerships, Horseed Media reports.

Mr Ali met businessmen such as High-profile investor Prince Alwaleed bin Talal and Crown Prince Sultan bin Nasir bin Abdulaziz Al Saud who are members of the Saudi royal family.

During the meeting, President Ali presented investment and business opportunities in the stable Northern Somalia autonomous region, saying that the investment climate is well set in the region and his administration is ready to offer facilities to stimulate companies and investors wishing to take advantage of investment opportunities, according to a statement from the President’s office.

Puntland President urged the Saudi businessmen to invest particulary in areas of infrastructure, boosting livestock export, building water supply boreholes and energy.

Somalia: Puntland President in Saudi Arabia to seek for investment

Mr Ali added that any Saudi investment in the region will be a great boost to the economy of Somalia.

In October, Puntland leader said in an exclusive interview with Horseed Media while attending the African summit held in London that his government is looking for investors to finance projects in key industries including infrastructure, agriculture and natural resources.

Analysts say Puntland has substantial potential in natural resources, including agriculture, livestock, fishing and hydrocarbons. The stable environment enjoyed by Puntland is a key attraction to investors.

Horseed Media

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